October 21, 2026
Buying a Georgia Dental Office With an SBA 504 Loan
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If you or your spouse served in the military and now run a business in Georgia, an SBA 504 loan may be one of the best ways to buy a building or major equipment. This guide explains how SBA 504 loans for veteran business owners in Georgia work, and what Georgia Small Business Capital (GSBC) offers through its VetLoan Advantage Plus program.
You will see how a 504 loan is structured, what it can pay for, what the veteran program adds, and how to get started. Rules and fees change, so treat this as a plain-language starting point and confirm current terms with GSBC.
VetLoan Advantage Plus is one of GSBC's loan programs. It is designed for small businesses owned by veterans or their spouses, and you can read GSBC's overview on its VetLoan Advantage Plus page.
It is not a separate kind of loan with different rules. The financing is still an SBA 504 loan, and the project still has to meet SBA 504 requirements. What changes is the cost side, as explained below.
Yes, an SBA 504 loan can fund a building. According to the SBA, 504 loans can be used for the purchase, construction, or renovation of existing buildings or land, and for long-term machinery and equipment with a useful remaining life of at least 10 years. Qualified debt can also be refinanced under certain conditions.
It cannot be used for working capital, inventory, speculation, or investment in rental real estate. In other words, the business generally needs to use the property it finances.
A 504 project uses two loans side by side. The first lien lender, meaning the bank or credit union that holds the first claim on the property, finances about half. The CDC finances a second loan, called a debenture, which is a long-term loan backed by the SBA and funded through the sale of bonds. The business owner covers the rest as a down payment, often called an equity injection.
Say a veteran-owned HVAC contractor buys an existing building with a total project cost of $1,500,000. Here is how the split typically works:
SourceShare of ProjectAmountBank or credit union (first lien)50%$750,000CDC debenture (second lien)40%$600,000Business owner down payment10%$150,000Total100%$1,500,000
If the building were a special purpose property, the owner's share would typically rise by about 5 percentage points. On the same $1,500,000 project, that means a $225,000 down payment (15 percent), a $525,000 CDC loan (35 percent), and the same $750,000 from the bank. A newer business buying a special purpose building typically puts down about 20 percent.
This is an illustration only. Real projects also include closing costs and fees, and your actual numbers depend on the property, the lender, and your financials.
As little as 10 percent in many cases. The down payment generally goes up by about 5 percent for certain projects such as special purpose buildings, and it is typically about 20 percent when the project involves both a new business and a special purpose building.
Ask your CDC to confirm which tier applies to your project before you make an offer on a property.
GSBC's website lists two reductions for veterans and their spouses. First, GSBC pays half of the third-party lender fee, up to $3,000. Second, the processing fee is reduced from 1.5 percent to 1.0 percent.
On a large project, a half-point reduction in a percentage-based fee can be meaningful. The exact savings depend on how the fee is calculated for your loan, so ask for a written estimate. Fee terms can change, and nothing here is a promise of a specific savings amount.
SBA 504 rates are set monthly and change. As shown on the GSBC homepage for October 2026, the posted rates were:
Term (October 2026)DebentureRefinance25-year6.974%6.975%20-year6.968%6.969%10-year6.600%6.601%
These rates apply to the CDC portion of the loan. The bank or credit union portion is priced separately by that lender. Check the GSBC website for the current month before you plan around any number.
Most owners follow the same basic path. Here are the steps in order:
You can read more about how this works in GSBC's proven process and in the GSBC frequently asked questions.
No. Veteran status helps with certain costs, but it does not replace underwriting. The business still has to be a small, for-profit operating business in the United States, and the project and your finances still have to make sense to the lender and the SBA. Approval is never guaranteed.
GSBC serves the entire state of Georgia. A veteran-owned business in Savannah, Augusta, Macon, Columbus, or the Atlanta suburbs goes through the same basic process. The loan is not tied to one city, so the property just needs to be in Georgia and meet program rules. For an overview of the standard program, see the SBA 504 Loan Program page.
An SBA 504 loan lets you own your building or equipment with a modest down payment and long repayment terms. If you or your spouse are a veteran, VetLoan Advantage Plus may lower some of the upfront costs. The best next step is a short conversation before you commit to a property.
Before you call, think through three things: what you want to buy, roughly what it costs, and how much cash you can put toward the project. Also talk with your CPA or attorney about how ownership may affect your taxes and legal position. This article covers general concepts only.
If you are ready to talk it through, the GSBC team in Georgia is happy to help. Call us at 404-373-8601 to see whether your project fits.
No. Any eligible small business can apply for an SBA 504 loan. VetLoan Advantage Plus simply adds fee reductions for businesses owned by veterans or their spouses.
According to GSBC, the program is designed for small businesses owned by veterans or their spouses. Ask GSBC how it verifies ownership and veteran status for your situation.
No. The SBA says 504 loans cannot be used for working capital or inventory. They are meant for buildings, land, renovation, and long-term equipment.
Often as little as 10 percent. It may increase to about 15 percent for a special purpose building and about 20 percent for a new business buying a special purpose building. Your CDC can confirm the tier for your project.
The SBA lists 10-, 20-, and 25-year terms for the CDC portion. The term that fits depends on what you are financing, so ask your CDC which option applies to your project.
